Amundi Buys 760,928 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Amundi increased its stake in Chipotle Mexican Grill by 11.7% during the first quarter, now owning over 7.28 million shares valued at approximately $364.6 million.
• Analysts have varied opinions on Chipotle, with Citigroup and TD Cowen lowering their price targets, while BMO Capital Markets and Piper Sandler upgraded their ratings, indicating a mixed outlook for the stock.
• Chipotle reported earnings of $0.33 per share, slightly exceeding analyst expectations, with quarterly revenue of $3.06 billion, reflecting a year-over-year increase of 3%.

Amundi raised its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,281,138 shares of the restaurant operator's stock after buying an additional 760,928 shares during the period. Amundi owned about 0.54% of Chipotle Mexican Grill worth $364,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Saudi Central Bank bought a new stake in Chipotle Mexican Grill in the first quarter worth $27,000. HighMark Wealth Management LLC raised its holdings in shares of Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. bought a new position in Chipotle Mexican Grill in the first quarter worth about $30,000. Finally, ORG Wealth Partners LLC purchased a new stake in Chipotle Mexican Grill in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CMG shares. Rothschild Redb upgraded Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. BTIG Research reiterated a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a research report on Friday. KeyCorp reduced their price objective on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. Melius assumed coverage on Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 target price for the company. Finally, Truist Financial cut their price target on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.93.

Chipotle Mexican Grill Stock Down 3.3%

Shares of CMG traded down $1.34 during trading hours on Monday, reaching $39.73. 16,046,781 shares of the company traded hands, compared to its average volume of 14,308,326. The company's fifty day moving average price is $47.35 and its two-hundred day moving average price is $49.54. Chipotle Mexican Grill, Inc. has a 12 month low of $39.47 and a 12 month high of $66.74. The company has a market capitalization of $53.27 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.09 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The business's revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.34 EPS. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.